Year-end report for 2003

JM Group Year-end report 2003 More stable market and broader range of homes · Net sales totalled SEK 7,787m (8,872) and profit for the year after tax amounted to SEK 187m (253) · Profit after financial items amounted to SEK 267m (368) · Property sales of SEK 2,219m (3,015) provided capital gains of SEK 411m (523) · The number of residential units sold during 2003 rose sharply by 27% to 3,189 (2,511) · Return on equity amounted to 6% (7). Earnings per share amounted to SEK 7 (9) · The improved housing market in the fourth quarter and better product adjustment increased sales of residential units · Cash flow improved during the fourth quarter and the interest- bearing net debt decreased by SEK 1.4 billion to SEK 2.6 billion. · New control and project oversight routines were introduced as well as a focus on efficiency · The Board of Directors proposes a dividend of SEK 5 per share (10) For additional information, please contact: Johan Skoglund, President and CEO +46 8 782 89 39 Claes Magnus Åkesson, CFO +46 8 782 89 71 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/16/20040216BIT00450/wkr0001.doc The full report http://www.waymaker.net/bitonline/2004/02/16/20040216BIT00450/wkr0002.pdf The full report

About Us

JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM seeks to promote long-term quality and environmental considerations in all its operations. Annual sales total approximately SEK 17 billion and the company has about 2,500 employees. JM is a public limited company listed on NASDAQ OMX Stockholm, in the Large Cap segment.

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